According to a recent study by researchers from the University of Tulsa and Tel Aviv University, the massive increase in the bitcoin price in late 2013 was caused by suspicious trading activity on the now-defunct Mt. Gox Bitcoin exchange. The study, which is titled “Price Manipulation in the Bitcoin Ecosystem,” indicates that 600,000 bitcoins were acquired by agents who did not pay for them, and the bitcoin price rose by an average of $20 on days when the suspicious trading activity took place. “Based on rigorous analysis with extensive robustness checks, we conclude that the suspicious....

Related News

Has the Bitcoin Value bubble burst? Looking at the most recent prices, we seem readier for a gentle nosedive than a new rollercoaster ride to the top. Many altcoins are heading down too: Litecoin, Peercoin and your beloved Dogecoin are all in a steady slide to the drain of the cryptocurrency world. But looking at the charts below, many would argue that Bitcoin is up for a new rise to 10,000 USD. This recent bubble wasn't the first bubble, and it won't be the last for Bitcoin. Bitcoin price in USD from begin 2013 to June 2014. You see that tiny top in April 2013? That was a bubble just like....

Results from the past do not offer guarantees for the future. It's the legal disclaimer that comes with every new financial brokerage account and trading promotion. And for good reason. Because results from the past, do not offer a guarantee for the future. Then again, history tends to repeat itself. Let's take a look at the two most recent Bitcoin bubbles: Bitcoin to USD - Jan 2013 to Oct 2013. Bitcoin to USD - Aug 2013 to Jul 2014. If you superimpose them over each other, a clear pattern emerges: Bitcoin to USD chart - April 2013 and December 2013 bubbles superimposed. The similarity....

The US Financial Crimes Enforcement Network (FinCEN) has published a new Suspicious Activity Report (SAR) analysis and, notably, the bulletin covers bitcoin. FinCEN, which is a bureau of the Department of the Treasury, has already weighed in on bitcoin in the past. In the last six months, it has ruled that bitcoin miners and investors, as well as cloud mining and escrow services built on the bitcoin protocol, are not money transmitters. FinCEN is tasked with policing financial transactions in the US and all money transmitters are expected to register with the bureau. This issue has....

A new poll from Bloomberg has shed more light on the perception of bitcoin among professionals in the world of traditional finance. Bloomberg's poll revealed that the fledgling currency is having trouble shaking its bubble image and that many financial professionals remain sceptical. The majority of participants said bitcoin is currently trading at "unsustainable" levels. Bloomberg's professionals are unimpressed. Bloomberg's poll did not involve the general public, instead focussing on 562 investors, analysts and traders that use its services. Awareness was not an issue, but 55% percent....

Tokyo-based security firm WizSec has released a preliminary analysis of suspicious trading data leaked from now defunct bitcoin exchange Mt Gox. The exchange suspended its operations in February last year and was subsequently declared bankrupt in March, having lost around 850,000 BTC (more than $450m at the time). Since last November, bitcoin exchange Kraken has worked alongside authorities to support the investigation on behalf of creditors. Meanwhile, WizSec has been working to track Mt Gox's bitcoin transactions in an unofficial capacity. WizSec's release follows the Willy Report, the....

Quotes

We've been a strong supporter of Bitcoin for a number of years as it allows overseas transactions with less fees and exchange rate fluctuations.